Gold Extends Losses Toward Third Week
Gold prices continued their decline during Asian trading sessions, heading toward a third consecutive weekly loss. The spot price of gold decreased by 1.8% to $4,134.86 per ounce, while August futures contracts dropped by 2.2% to $4,152.25. This decline is attributed to the strength of the U.S. dollar and expectations of interest rate hikes amid the Federal Reserve's persistent hawkish stance, with over 80% of markets anticipating rate increases by the end of the year.
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